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Bond Management Style
GWLIM is a disciplined, risk-averse bond manager using both fundamental and technical analysis on interest rate anticipation, yield curve analysis and relative spreads between federal, provincial and corporate bonds.
GWLIM forecasts future economic performance to identify major trends or cycles in interest rate movements. We look for inflection points in these trends or cycles when the debt market is subject to relatively high risk or low risk and adjust the duration, yield-curve positioning and weights between federal, provincial and corporate bonds accordingly.
We use a number of criteria to determine the appropriate allocations between federal, provincial and corporate bonds. These include economic growth, inflation, monetary policy, liquidity trends, currency movements, interest rate spreads, cyclical trends and credit quality requirement.
For corporate bonds we believe the primary value a manager provides is the underwriting of the credit quality of the issue. In this regard, we have a distinct advantage in that we are able to utilize the detailed credit analysis performed by the Corporate Credit Group at Great-West Life. The credit analysis consists of a detailed review of both public and private issuers including reviews of supporting legal documentation, financial statements and forecasts, and discussion with senior management.
View a complete listing of our fixed income fund offerings.
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Corporate Overview |
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GWL Investment Management Ltd. (GWLIM) was established in 1981 as the investment subsidiary of The Great-West Life Assurance Company (GWL).
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